Cflane Llc Employee Welfare Benefit Plans Trust

The information for Cflane Llc Employee Welfare Benefit Plans Trust is as of the organization's most recent filing in October '21. This organization is located in Atlanta, GA. It has been in existence for 28 years, following its founding in 1993.

Organization Classification

The IRS classifies organizations according to the National Taxonomy of Exempt Entities (NTEE) system. The NTEE system helps the IRS assign a 3-character code to each organization to describe the organization's activities.

The Cflane Llc Employee Welfare Benefit Plans Trust's NTEE code is Y20. The "Y" tells us that the organization is classified along with Insurance Providers. The "20" tells us that the organization falls under the major classification of Mutual & Membership Benefit. The NTEE describes Insurance Providers as organizations established as vehicles for their parent corporations to set aside funds for workers compensation, medical malpractice, general liability claims, and other insurance purposes. This code is primarily used for organizations exempt from federal taxes under 501(c)(3) of the Internal Revenue Code.

Every organization is also governed by a specific section of the Internal Revenue Code. This organization happens to fall under section 9, which is described as Voluntary Employee Beneficiary Associations. The IRS describes these organizations as those established to accept employer and participant contributions to employee welfare benefit plans.

Perhaps the most accurate way to understand the organization's goals is by looking at its mission. The mission of the Cflane Llc Employee Welfare Benefit Plans Trust is to establish a VEBA trust that accepts employer and participant contributions to employee welfare benefit plans.

Program Areas

Program Area 1: The organization provided medical, dental, hospitalization, life insurance, and disability benefits to eligible employees and their dependents within the general fund.

Board Governance

Based on the information provided, it appears that the non-profit organization, Cflane Llc Employee Welfare Benefit Plans Trust, has significant deficiencies in its governance structure. The absence of voting members and independent members raises concerns about the organization's accountability and transparency. Without individuals who can provide diverse perspectives and hold the organization's leadership accountable, there is a risk of decision-making being concentrated in the hands of a few individuals. Furthermore, the lack of documented board and committee meetings indicates a lack of transparency and accountability within the organization. Without proper documentation, it becomes difficult to track and evaluate the organization's decision-making processes. This can hinder the ability to identify and address any potential conflicts of interest or ensure that decisions are made in the best interest of the organization and its beneficiaries. The absence of conflict of interest, whistleblower, and document retention policies further highlights the organization's weak governance practices. These policies are crucial in promoting ethical conduct, ensuring the organization's resources are used appropriately, and providing a mechanism for reporting and addressing any wrongdoing or misconduct. While it is positive that the organization provides copies of the 990 to the board prior to filing, this alone is not sufficient to ensure effective governance. The organization needs to address the various deficiencies mentioned above to establish a strong and transparent governance framework.

Organization Growth

The nonprofit organization, Cflane Llc Employee Welfare Benefit Plans Trust, has experienced a decrease in program service revenue, total revenue, benefits paid to members, and total expenses over the given time period from 2018 to 2020. However, there has been an increase in investment income during this same period. Overall, the organization has seen a decline in its financial performance, with a decrease in both revenue and expenses.